

MrBitcoin
543 posts

@MrBitcoin_io
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It's happening Since $BTC lost $70k a patience call was made awaiting the spot plunge protection to appear for absorption of this high selling pressure we're currently witnessing. Spot Bitcoin ETFs exited $4.1B in 13 trading days. Tradfi didn't like the underperformance of the crypto market vs stocks and decided to dump it ahead of the SpaceX IPO (June 12) with an outflow streak that just ended yesterday.  It was clear that a couple entities were exiting heavy since $80k was lost, indifferent of price fills, just limit chasing asks (red dots). They want out.  Regardless, the metric we've been monitoring is the spot plunge protection in the orderbook depth 0-10%. The good news? It's happening alongside a couple other metrics signaling a potential slowdown of this downtrend: 🔹BTC ETFs outflow streak ended with +$50M of inflows from Blackrock  🔹Coinbase premium grinding back slowly into neutral territory 🔹0-10% spot plunge protection appeared in the books


$JTO compressing Solana's second biggest liquid staking protocol is compressing between its 90d rvwap and 365d rvwap As long as we trade below the 365d rvwap at $0.67 there's nothing todo but Accepting above it opens up a free ride into $0.9 - $1 (50% move) while reclaiming $1 = another %70 move into $1.7





$HYPE rejected its developing quarterly vah at $64 and currently accepting within $61 - $53 range. Watching for a $53 sweep next





















BREAKING: 60% chance Bitcoin hits $50,000 before $100,000









I will see you in the next few months $BTC.
